India's GST 2.0 reforms have gone live, simplifying the tax structure into broader slabs of 0%, 5%, 18%, and 40%. A major highlight: 90% of items previously taxed at 28% have now been brought down to 18%. Here's a breakdown of the new GST regime and what it means for your wallet:New GST slabsThe 12% and 28% GST slabs have been scrapped for many items. Cement for housing is now set at 18 per cent, down from 28 per cent. The government has merged cess into the GST base and imposed a 40 per cent levy on sin and luxury goods to offset revenue losses.